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Library  of  the 
University  of  North  Carolina 

Endowed  by  the  Dialectic  and  Philan- 
thropic Societies 

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taken  from  the  Library 
building. 


REPORT 


OF     THE 


PETERSBURG  RAILROAD   COMPANY 


Office  Petersburg  Railroad  Co. 
Petersburg,  Nov.  6,    1848. 

James  Brown,  Jr.  Esq. 

Second  Auditor. 

Sir, 

I  enclose  you  the  customary  statements  of  the  Petersburg 
railroad  company,  for  the  twelve  months  ending  September  30,  1848, 
together  with  a  list  of  the  stockholders,  and  the  report  and  proceedings 
of  the  last  annual  meeting. 

From  the  statements  enclosed,  you  will  see  that  the  receipts  of  trans- 
portation for  the  twelve  months  just  ended  were  $  163,454  09.  The 
current  expenses  of  doing  this  transportation  were  $  76,884  75.  The 
nett  income  was  $  86,569  34.  This,  added  to  the  cash  on  hand  from 
the  previous  year,  left  the  sum  of  $  125,174  03,  applicable  to  divi- 
dends, reduction  of  debt  and  improvements  to  road.  This  enabled  us 
not  only  to  increase  the  dividend  to  seven  per  cent.,  and  pay  off  some 
debt,  but  to  make  some  additions  and  improvements  to  the  road,  which 
were  greatly  needed.  You  will  see  in  the  disbursements,  that  we  ex- 
pended $22,582  55  for  new  engines  and  cars.  This  has  greatly  in- 
creased our  ability  to  do  the  transportation  more  promptly.  We  built 
a  large  addition  to  our  warehouse  in  Petersburg,  eighty  by  one  hun- 
dred and  twenty  feet,  which,  with  some  minor  improvements,  stated 
in  the  account  of  disbursements,  amounted  to  $  5952  43.  We  also 
commenced  a  most  desirable  improvement  on  our  road,  to  wit,  widen- 
ing and  raising  our  bridges,  and  have  finished  those  across  Stony  creek, 
Nottoway  and  Meherrin  rivers,  (all  except  roofing  and  weathcrboard- 
ing.)  and  are  now  at  work  on  the  last  one,  the  bridge  across  Fontaine's 
creek. 

Onr  bridges  were  all  originally  constructed  too  low  and  narrow,  and 
they  have  been  the  cause  of  several  serious  accidents  to  our  men,  and 
a  source  of  constant  danger  to  passengers  on  the  road.  They  also 
obliged  us  to  use  small  and  inconvenient  passenger  cars,  to  the  great 
injury  of  the  character  of  our  road  in  the  estimation  of  the  travelling 
community. 


2 

In  altering  the  bridges,  we  have  thoroughly  repaired  them,  and  made 
them  much  stronger,  so  that  they  will  require  very  little  work  on  them 
for  many  years.  This  work,  so  far,  has  cost  $  1999  14,  and  it  will 
take  about  $  1500  more  to  complete  it. 

In  addition  to  these  improvements,  we  have  on  hand  of  the  mate- 
rials purchased  last  year,  rails,  sills  and  wood  amounting  to  $  12,535 
53  cents,  which  is  nearly  a  year's  supply. 

After  making  all  these  payments,  there  was  left  the  sum  of  $  10,902 
45  cents,  to  be  carried  to  the  next  year. 

The  current  expenses  of  last  twelve  months  exceeded  by  a  small 
amount  ($3247  62,)  those  of  the  preceding  year.  The  increase  was 
chiefly  in  the  repairs  of  engines  and  cars,  the  condition  of  which  was 
considerably  improved  last  year.  The  railroad  track  was  also  greatly 
improved,  nearly  all  the  bad  cuts  having  been  causewayed,  and  the 
drainage  made  more  complete. 

Although  we  have  still  a  flat  bar  rail  on  three-fourths  of  the  road,  and 
it  would  be  a  matter  of  great  importance  to  continue  the  edge  rail,  yet 
the  track  is  in  such  good  order,  and  the  iron  looks  so  well,  that  we  feel 
confident  it  will  last  long  enough  to  enable  us  to  make  the  other  im- 
provement as  fast  as  the  wants  of  the  road  require  it.  Thus  if  our 
freight  business  (for  which  we  most  need  the  heavy  iron,)  increases 
next  year,  we  shall  be  able  to  lay  several  miles  of  edge  rails,  and  in 
this  way  continue  the  improvement  from  the  resources  of  the  road,  as 
fast  as  it  is  needed.  It  would,  however,  enable  us  to  make  a  very  im- 
portant saving  in  the  cost  of  the  iron  now,  if  we  had  the  means  to  pro- 
cure it,  for  it  can  be  purchased  for  $20  per  ton  less  than  it  was  a  year 
ago,  and  perhaps  that  much  less  than  it  will  be  a  year  hence.  This 
would  enable  us  to  make  a  saving  of  $48,000  on  the  iron  wanting  to 
lay  the  road  from  the  fifteen  mile  post  (which  is  as  far  as  we  have  got 
the  edge  rails,)  to  the  junction  of  the  Greensville  and  Roanoke  road,  or 
$  76,000  on  the  iron  necessary  to  complete  the  whole  road. 

With  a  good  edge  rail  track,  we  should  be  able  to  make  our  road 
much  more  useful  to  the  country,  as  it  would  not  only  make  it  a  better 
and  safer  mode  of  conveyance,  but  it  would  no  doubt  enable  us  to 
carry  produce  at  less  rates  than  we  are  now  charging. 

The  receipts  from  freight  fell  off  $  9584  85  last  year,  and  those  from 
passengers  $7134  49.  Our  outward  freight  averaged  some  twenty 
per  cent.,  and  the  falling  off  was  in  the  outward  freight,  and  chiefly  in 
the  item  of  tobacco,  the  crop  of  which  was  a  short  one.  There  was 
some  little  falling  off  in  cotton  also,  but  that  was  to  have  been  ex- 
pected, as  the  cultivation  of  that  article  is  decreasing  on  our  road  every 
year.  To  compensate  for  this  loss  in  part,  there  was  a  considerable 
increase  in  the  quantity  of  flour  brought  in  on  the  road,  an  important 
matter,  as  it  indicates  that  the  planters  are  turning  their  attention  more 
to  crops  calculated  to  improve  and  renovate  their  lands,  which  will  in 
the  end  be  a  source  of  great  profit  to  the  company. 

In  connection  with  this  subject,  I  think  it  proper  to  inform  you  that 
the  board  of  directors  have  reduced  the  rates  on  lime  and  other  ma- 
nures to  a  mere  nominal  charge,  and  propose  to  offer  every  facility 
which  the  road  can  give,  for  the  improvement  of  the  country  using  it. 


3 

The  falling  off  m  the  receipts  from  passengers  was  doubtless  owing  to 
the  sea  steamers  carrying  travel  between  the  north  and  south  at  rates 
considerably  less  than  the  aggregate  of  the  charges  on  the  railroads. 
We  have  lately,  in  connection  with  the  companies  between  Charleston 
and  Philadelphia,  made  an  arrangement  to  reduce  the  fare,  so  as  to 
make  our  line  as  cheap  as  that  by  sea,  and  we  expect  soon  to  be 
able  to  extend  it  to  New  York.  This  will,  in  all  probability,  prevent 
the  steam  packets  from  injuring  us  materially.  But  we  look  upon  the 
loss  of  travel  from  the  competition  of  the  steamers,  as  a  temporary 
evil,  and  probably  it  will  be  productive  of  good  in  the  end,  by  hurry- 
ing the  completion  of  the  connecting  link  between  the  North  and 
South  Carolina  railroads.  The  connection  by  the  way  of  the  Wil- 
mington and  Manchester  railroad  has  already  been  commenced,  and 
under  such  auspices  as  encourages  the  belief  that  it  will  not  be  long 
before  it  is  completed.  With  this  link  made,  very  few  travellers  be- 
tween Charleston  and  the  north  would  run  the  risk  of  the  sea  voyage, 
and  it  would  no  doubt  draw  travel  from  the  western  rivers. 

We  derive  a  considerable  amount  of  our  freight  business  from  the 
Raleigh  and  Gaston  railroad,  and  as  that  road  belongs  to  the  state  of 
North  Carolina,  and  is  unproductive  in  its  present  condition,  we  are 
greatly  in  hopes  that  something  will  be  done  to  improve  it.  The  fact 
of  our  road  being  profitable,  with  very  little  more  business  than  that 
road  enjoys,  ought  to  satisfy  the  good  people  of  that  state,  that  there 
can  be  no  risk  in  making  any  expenditure  calculated  to  increase  its 
trade. 

The  board  of  directors  think  it  not  amiss  to  call  the  attention  of  the 
Board  of  public  works  to  the  fact,  that  the  road  in  the  last  four  or  five 
years  has  been  reconstructed,  improved  and  extended  across  the 
Roanoke,  its  means  of  transportation  greatly  increased,  a  large  debt 
paid  off,  and  the  payment  of  dividends  resumed  ;  all  of  which  has  been 
done  out  of  the  profits  of  the  business  alone. 

By  order  of  the  board  of  directors. 

H.  D.   BIRD,  President. 


Return   of  the   state  of  the  Petersburg  Railroad   Company,  Sep- 
tember 30,   1848. 


Capital  paid  in  by  the  state,  -  323,500  00 

"         "  corporation  of  Petersburg,  44,100  00 

"  <:  individuals,  -  -  401,400  00 


Debt  to  the  state,     -  -  -  16,000  56 

"  dividends  uncalled  for,  -  1,428  "50 

"  to  individuals,  -  -  19,243  47 


769,000  00 


36.672  53 


Profit  and  loss,         -  15,149  53 


$820,822  06 


Cost  of  railroad,       -----  789,038  30 

Debts  due  the  company,       -  20.881  31 

Cash,  -  -  -  -  -  -  10,902  45 


$820,822  06 


Receipts  and  Disbursements  of  the  Petersburg  Railroad  Company, 
for  the  12  months  ending  September  30,    1848. 

Receipts : 
Cash  on  hand  September  30th,  1847,  -  -  38,604  69 

Gross  amount  of  transportation,       -  163,454  09 


Disbursements : 
Expenses  of  transportation,  -    ■ 

Cost  of  two  new  locomotive  engines, 
Cost  of  15  new  freight  cars  and  1  baggage  car, 
Cost  of  new  warehouse  in  Petersburg, 
House  for  overseer  at  Pleasant  Hill, 
Planing  machine,     -  -  -  -  - 

Seven  new  turning  tables  in  Petersburg, 
For  widening   Stoney  creek,  Meherrin  and  Nottoway 

bridges,  - 

For  rails,  sills,  wood  and  materials  on  hand, 
P.  E.  Rives,  on  account  of  contract, 
Interest  account,      -  _  -  -  - 

Reduction  of  debt  due  by  the  company, 
Increase  of  debt  due  to  the  company, 
Dividends  of  January  and  July,  7  per  cent., 
Cash  on  hand  September  30th,  1848, 


$202,058 

78 

76,884 

75 

14,101 

00 

8,481 

55 

3,434  25 

343 

50 

354 

38 

1,820 

30 

1,999 

14 

12.535 

53 

5,000 

00 

1,000 

60 

8,844 

73 

4,161 

60 

52,195 

00 

10,902 

45 

$202,058  78 


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Detailed    Statement  of   the  Expenses    of    Transportation,  for   the 
twelve  months  ending  September  30th,   1848. 

General  Superintendence : 

Salaries  of  president,  treasurer  and  clerks,      -  -  4,896  66 

Expenses  of  Depots  : 

Cost  of  agents,  watchmen  and  labourers 

at  Petersburg  depot,              -             -  3,755  00* 

Cost  of  agents  and  labourers  at  way  depots,  2,299  56 

Do.     at  Garysburg  and  Weldon,  1,440  42 
Do.     at  depots  on  the  Greenesville  and 

Roanoke  railroad,               -  3,329  90 

10,824  88 


Running  Engines  and  Cars  : 
Pay  of  engineers,  conductors,  firemen  and 

train  hands,  -  -  -  9,294  00 

Fuel,  oil,  &c.  ...  8,418  39 


Repairs  of  Engines  and  Cars  : 

Pay  of  firemen,  smiths,  carpenters  and 

labourers,  -  -  -  10.210  55 

Material  for  repairs,  coal,  &c.  -  6,493  42 


Repairs  of  Railroad : 

Pay    of    superintendent,    overseers,  and 

cost  of  labour  of  all  kinds,  -             7,744  00 

Timber,  tools,  &c.                     -  -           14,298  06 


17,712  39 


16,703  97 


22,042  06 
Miscellaneous  expenses,        -  4,704  79 

Total  expenses,  -         $76,884  75 


Photomount 

Pamphlet 

Binder 

Gaylord  Bros. 

Makers 

Syracuse,  N.  Y. 

MT.  JAM  21,  1908 


UNIVERSITY  OF  N.C.  AT  CHAPEL  HILL 


00042071710 


FOR  USE  ONLY  IN 
THE  NORTH  CAROLINA  COLLECTION 


